Australian banking criminal-cartel case charges slashed as trial timetable hangs by a thread
By Laurel Henning ( August 18, 2021, 04:36 GMT | Insight) -- Australia’s federal prosecutors have been forced to slash two-thirds of the criminal charges relating to a 2015 Australia & New Zealand Banking Group share placement in developments that could undermine the timing of a landmark criminal-cartel prosecution. Prosecutors have focused their charges on one of the three initially alleged agreements at the heart of the case and have dropped all charges against Citigroup’s Stephen Roberts, who had faced criminal charges along with five other executives from Citi, Deutsche Bank and ANZ, along with their employers. As lawyers now plan to examine Australian competition officials and prepare for a debate on the legal context of the case — all before the matter is scheduled to go to trial in April 2022 — the timing of the prosecution is at risk.Australia’s federal prosecutors have been forced to slash two-thirds of the criminal charges relating to a 2015 Australia & New Zealand Banking Group, or ANZ, share placement in developments that could undermine the timing of a landmark criminal-cartel prosecution....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
Curated case files bringing together news, analysis and source documents in a single timeline